In chaos the natural oil market – Prices soar
The natural oil market is in chaos with prices being launched, while traders and refineries desperately seek readily available reserves. In the North Sea, from 40 bids for cargo this week, just four were covered. Dated Brent reached a record of $144 a barrel, surpassing the 2008 levels. Supplies from Nigeria were formed up to $25 over the reference point. Analysts warn of a lack of slow in the coming weeks due to disruption of supplies from the Middle East, with European refineries expected to reduce production, exacerbating the lack of diesel and aircraft fuel.
